DEWA completes loan refinancing
- From: Vol 10, Issue 4 (April 2009)
- Category: General
- Region: Middle East
- Related Companies: Dubai Islamic Bank, Dubai Water and Electricity Authority , Fitch, Moody’s, Royal Bank of Scotland and Standard Chartered Bank
The pressure on DEWA’s ratings has eased after the authority successfully refinanced a $2.2 billion loan. Reduced capex commitments will also help.
The Dubai Electricity and Water Authority extended a $2.2 billion loan at the end of March ahead of the April refinancing deadline for the facility, in a move that eases recent pressure on its credit ratings.
A total of 15 banks participated in the new three-year facility, which was arranged by RBS, Standard Chartered and Dubai Islamic Bank. The ...
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